Staycity WestEnd Edinburgh, 9-13 Brandfield Street, Edinburgh
Description
- Price Offers in excess of £12,400,000 at 5.75% NIY (£206,500 per bed)
The property was constructed in 2011 and provides a modern aparthotel comprising 60 keys arranged over basement, ground and five upper floors. It is across contains two separate blocks that are adjacent to each other and interlink at basement level.
The property is situated on Brandfield Street in the West End which is a vibrant bustling commercial and cultural district home to theatres,
shops, cafes and art galleries.
The property is situated on Brandfield Street in the West End which is a vibrant bustling commercial and cultural district home to theatres,
shops, cafes and art galleries.
BUILDING HIGHLIGHTS
Edinburgh is a leading tourist destination attracting millions of visitors each year to the city's rich history and stunning architecture recognised by its UNESCO World Heritage status.
Prime location on Brandfield Street within the heart of the city's West End.
Modern aparthotel that was constructed in 2012 and consists of 60 one and two bedroom apartments.
Let on two FRI leases to Stayedinburgh Limited with a guarantee from Staycity Limited until the 26th March 2037 providing an unexpired term certain of 12.40 years.
The total current passing rent is £759,984 per annum reflecting £12,666 per room.
5 yearly upwards only CPI linked rent reviews subject to a collar and cap of 2% - 5% per annum compounded annually.
The next review is due of the 27th March 2027 where the rent is forecast to increase to £891,197 per annum.
Staycity are Europe's leading aparthotel operator offering hotel standards with the comfort of apartment living. They have a D&B rating of 3A2 reflecting low risk of business failure.
Feuhold
Specification
We are inviting offers in excess of £12,400,000 subject to contract and exclusive of VAT.
A purchase at this level will reflect a Net Initial Yield of 5.75% and a Reversionary Yield of 6.75%.
The property has a capital value of £206,500 per room after allowing for purchaser costs of 6.75%.
A purchase at this level will reflect a Net Initial Yield of 5.75% and a Reversionary Yield of 6.75%.
The property has a capital value of £206,500 per room after allowing for purchaser costs of 6.75%.